Perks of Immediate Profit that You Must Consider
In the short time that bitcoin has been in existence, it’s made quite a statement. It’s turned the world of finance upside down and challenges other cryptocurrencies to duke it out. Bitcoin has also made some people VERY wealthy.). You can do this if you’re making profits from your bitcoin business. If your profit is large, capitalize on it by all means!
Here are a few ways to maximize your profits without risking too much of your capital:
Use Bitcoin as Payment Processing
If you accept bitcoin as payment, there’s no need to convert it back into dollars or euros. Most companies that accept cryptocurrency as payment do so to hedge their exchange rate risk ? meaning that they’re sitting on both sides of the coin.
Some businesses are utilizing blockchain-based payments. These businesses don’t keep bitcoin on their books. When a customer pays in cryptocurrency, it’s converted into fiat and deposited into their bank account.
Use Bitcoin as an Investment Asset
Bitcoins are a lot like gold – they’re financial assets traded between individuals and companies the same way precious metals are.
Owning bitcoin has nothing to do with using it to buy products or services. You can hold onto your bitcoin and use it to trade on an exchange. You can do this without owning any bitcoin or holding onto the bitcoin for a long time ? holding it for more than a couple of days is probably overkill. Just store your bitcoins in one of the online wallet services (more about that below).
This means you only have to keep track of the price movement of your assets and make a profit when you sell those assets at a higher price than what you bought them at.
Start a Bitcoin ATM Business
You can start an ATM to trade bitcoins for cash and vice versa. This is a great way of getting into the cryptocurrency game without buying your bitcoin up front with an immediate profit review.
All kinds of machines are available on websites like eBay, including different sizes and styles. Some support altcoins ? there are even a few ATMs transacting in the top altcoins like ETH and LTC.
Store Your Bitcoin in an Online Wallet
Online wallets store your bitcoins on the internet and use a special cryptographic algorithm to secure them. The problem with web wallets is that they are not as secure as people think ? a significant amount of bitcoin can be stolen from your online wallet, just like any other online account.
In 2014, a new technology called multi-signature wallets (sometimes called “multi-sig”) was introduced to the cryptocurrency community. Multisig allows you to divide up the responsibility of storing your bitcoins between multiple people or institutions. This means that your bitcoins are less likely to be stolen since there’s only one password that needs to be compromised for someone to take your money ? and no single person knows that password.
Drop Bitcoins Into a Startup
If you want to invest in a startup or fund an idea or business, you can use bitcoin. Because there are no banks involved, the startup has complete control over the funds. If you don’t like sharing your money with anyone but yourself, a bitcoin-funded startup is right up your alley.
Buy Gift Cards With Bitcoin
In some states, gift card kiosks pop up at popular retailers like Home Depot and Best Buy. These machines use bitcoin to purchase gift cards. Unlike many Bitcoin ATMs attached to an ATM and transacting within the machine, you can use this service anywhere.
Invest in Real Estate
You might think cryptocurrencies aren’t safe for keeping your money. Not true! If a bitcoin goes up in value, you automatically make money!
For example, if you wanted to invest $1 million in BTC with a 5% return rate (which is a conservative expectation), your investment would grow to $1.5 million within a year and $3.5 million in 2 years!
Buy Oil and Gas Futures
You can invest in the future price of oil and natural gas ? which are house staples that have always been traded on Wall Street. If you have the trading/investment knowledge necessary to succeed, then give it a try. However, if you don’t have the experience, it’s probably best to sit this one out.
What's Your Reaction?
